Request to Increase Sample Clauses

Request to Increase. The Borrower shall have the right to increase the aggregate amount of the RC Commitment by an aggregate principal amount equal to $25,000,000 by obtaining additional commitments, either from one or more of the Lenders or another lending institution reasonably acceptable to the Agent (a “new Lender”), subject to the following terms and conditions: (i) any such request for an increase shall be in the aggregate principal amount of at least $5,000,000, (ii) the Borrower may make a maximum of two (2) such requests, (iii) any new Lender assumes all of the rights and obligations of a “Lender” hereunder, and (iv) the procedure described in this Subsection 2.3.1 has been satisfied and provided, further, the Borrower shall give the existing Lenders at least ten Business Days’ written notice that it intends to increase the RC Commitment (which notice shall include the amount of such proposed increase) and the Borrower shall give the existing Lenders the first opportunity to provide such increase in the RC Commitment during such ten Business Day period prior to agreeing to any increased RC Commitment with any new Lender. If more than one existing Lender offers to provide the increased RC Commitment, such increase shall be allocated among the offering Lenders pro rata. For the avoidance of doubt, no Lender shall be obligated under this Section 2.3 (Increase in RC Commitment) to fund any portion of an increase in the aggregate amount of the RC Commitment pursuant to this Section 2.3 (Increase in RC Commitment), unless such Lender agrees to fund at the time of such increase.
Sample 1
AutoNDA by SimpleDocs
Request to Increase. From and after November 4, 2010, and provided no Event of Default has occurred and is continuing, the Borrower may from time to time propose to increase the Commitment Amount for any Facility in accordance with this Section 2.16(b). The aggregate principal amount of the increase to the Commitment Amount for such Facility (the “Increased Facility Amount”) shall not exceed $100,000,000 and each increase shall be at least $10,000,000. The Borrower shall provide notice to the Administrative Agent of any requested Increased Facility Amount. The Administrative Agent may, in its sole discretion, offer one or more Lenders the opportunity (but not the obligation), for a period of 20 days following receipt of such notice, to elect by notice to the Borrower and the Administrative Agent to subscribe to participate in the Increased Facility Amount. Each such Lender that fails to respond to such a notice shall be deemed to have elected not to subscribe to or increase its Percentage in such Facility.
Sample 1
Request to Increase. The U.S. Borrower shall have the right to increase the aggregate amount of the RC Commitment by an aggregate principal amount equal to $10,000,000 by obtaining additional commitments, either from one or more of the Lenders or another lending institution reasonably acceptable to the Agent (a “new Lender”), subject to the following terms and conditions: (i) any such request for an increase shall be in the aggregate principal amount of at least $5,000,000 (ii) the U.S. Borrower may make a maximum of two (2) such requests, (iii) any new Lender assumes all of the rights and obligations of a “Lender” hereunder, and (iv) the procedure described in Subsection 2.4.1 has been satisfied and provided, further the U.S. Borrower shall give the existing Lenders at least ten Business Days’ written notice that it intends to increase the RC Commitment (which notice shall include the amount of such proposed increase) and U.S. Borrower shall give the existing Lenders the first opportunity to provide such increase in the RC Commitment during such ten Business Day period prior to agreeing to any increased RC Commitment with any new Lender. If more than one existing Lender offers to provide the increased RC Commitment, such increase shall be allocated amount the offering Lenders pro rata.
Sample 1
Request to Increase. From and after July 19, 2011, and provided no Event of Default has occurred and is continuing, the Borrower may from time to time request an increase in the Commitment Amount for any Facility in accordance with this Section 2.16(b). The aggregate principal amount of all increases to all Commitment Amounts made pursuant to this Section 2.16(b) shall not exceed $100,000,000 (the “Maximum Aggregate Increase Amount”), subject to reinstatement as provided in subsection (vi) below, and each requested increase (each, an “Accordion Increase”) shall not be less than $10,000,000. Upon receipt of a request for an Accordion Increase from the Borrower, the Administrative Agent, in its sole discretion, may offer one or more Lenders the opportunity (but not the obligation), in such amounts as the Administrative Agent shall determine, to participate in the Accordion Increase by increasing such Lender’s Commitment with respect to the applicable Facility. The Administrative Agent shall have no obligation to offer any Lender an opportunity to participate in any such Accordion Increase and nothing herein shall prohibit the Administrative Agent from retaining for its own account, as a Lender, all or substantially all of such Accordion Increase. Each Lender that fails to respond to such a notice in writing within the period of time provided therein shall be deemed to have elected not to participate in such Accordion Increase.
Sample 1
Request to Increase. Provided that no Event of Default has occurred and is continuing, Borrower may from time to time, but in no event more than two times prior to the 2-Year Maturity Date, propose to increase the Aggregate 2-Year Commitment in accordance with this Section 2.10. The aggregate principal amount of the increase to the Aggregate 2-Year Commitment made pursuant to this Section 2.10 (the amount of any such increase, the “Increased Facility Amount”) shall not exceed $35,000,000, which for the avoidance of doubt shall increase the Aggregate 2-Year Commitment to an amount not to exceed $50,000,000, and each increase shall be at least $10,000,000. Borrower shall provide notice to the Administrative Agent (which shall promptly provide a copy of such notice to the Syndication Parties) of any requested Increased Facility Amount. Each Syndication Party shall have the right (but not the obligation), for a period of thirty days following receipt of such notice, to elect by notice to Borrower and the Administrative Agent to subscribe to participate in the Increased Facility Amount to the extent of its Percentage. Syndication Parties that fail to respond to such notice shall be deemed to have elected not to increase their Percentages in the 2-Year Facility.
Sample 1
Request to Increase. 34 2.3.2 Modifications to this Agreement 35 2.4 Term Loan to U.S. Borrower. 35
Sample 1
Request to Increase. Following the Closing Date, and provided no Event of Default has occurred and is continuing, the Borrower may from time to time through the third anniversary of the Closing Date, propose to increase the Total Revolving Facility Amount in accordance with this Section. The aggregate principal amount of the increases to the Total Revolving Facility Amount made pursuant to this Section (the amount of any such increase, the “Increased Facility Amount”), shall not infoUSA Credit Agreement exceed $75,000,000 and each increase shall be at least $25,000,000. The Borrower shall provide notice to the Administrative Agent (which shall promptly provide a copy of such notice to the Lenders) of any requested Increased Facility Amount. Each Revolving Lender shall have the right (but not the obligation), for a period of 30 days following receipt of such notice, to elect by notice to the Borrower and the Administrative Agent to subscribe to participate in the Increased Facility Amount to the extent of its Revolving Percentage. Lenders that fail to respond to such a notice shall be deemed to have elected not to increase their Revolving Percentages.
Sample 1
AutoNDA by SimpleDocs

Related to Request to Increase

  • Lender Elections to Increase Each Lender shall notify the Administrative Agent within such time period whether or not it agrees to increase its Commitment and, if so, whether by an amount equal to, greater than, or less than its Applicable Percentage of such requested increase. Any Lender not responding within such time period shall be deemed to have declined to increase its Commitment.

  • Commitment Increase (i) On any date prior to the latest Termination Date, the Borrowers may increase the aggregate amount of the Commitments by an amount not less than $50,000,000 for any such increase but not more than $500,000,000 (the “Maximum Accordion Amount”) for all such increases (any such increase, a “Commitment Increase”) by designating one or more of the existing Lenders or one or more Affiliates thereof (each of which, in its sole discretion, may determine whether and to what degree to participate in such Commitment Increase) or one or more other Persons that at the time agree, in the case of any existing Lender, to increase its Commitment (an “Increasing Lender”) and, in the case of any other Person or an Affiliate of a Lender (an “Additional Lender”), to become a party to this Agreement; provided that (i) each Additional Lender shall be acceptable to the Administrative Agent, and each Increasing Lender and each Additional Lender shall be acceptable to the Fronting Banks, (ii) the allocations of the Commitment Increase among the Increasing Lenders shall be determined by the Administrative Agent in consultation with each Borrower, and (iii) the amount of the Commitment of each Additional Lender shall not be less than $5,000,000. The sum of the increases in the Commitments of the Increasing Lenders pursuant to this subsection (b) plus the Commitments of the Additional Lenders upon giving effect to the Commitment Increase shall not exceed the amount of the Commitment Increase. The Borrowers shall provide prompt notice of any proposed Commitment Increase pursuant to this Section 2.06(b) to the Administrative Agent, which shall promptly provide a copy of such notice to the Lenders and the Fronting Banks.

  • Incremental Loan Request Each Incremental Loan Request from the Borrower pursuant to this Section 2.14 shall set forth the requested amount and proposed terms of the relevant Incremental Term Loans or Incremental Revolving Credit Commitments. Incremental Term Loans may be made, and Incremental Revolving Credit Commitments may be provided, by any existing Lender (but each existing Lender will not have an obligation to make any Incremental Commitment, nor will the Borrower have any obligation to approach any existing lenders to provide any Incremental Commitment) or by any other bank or other financial institution (any such other bank or other financial institution being called an “Additional Lender”) (each such existing Lender or Additional Lender providing such, an “Incremental Revolving Credit Lender” or “Incremental Term Lender,” as applicable, and, collectively, the “Incremental Lenders”); provided that (i) the Administrative Agent, each Swing Line Lender and each L/C Issuer shall have consented (not to be unreasonably withheld or delayed) to such Lender’s or Additional Lender’s making such Incremental Term Loans or providing such Revolving Commitment Increases to the extent such consent, if any, would be required under Section 10.07(b) for an assignment of Loans or Revolving Credit Commitments, as applicable, to such Lender or Additional Lender, (ii) with respect to Incremental Term Commitments, any Affiliated Lender providing an Incremental Term Commitment shall be subject to the same restrictions set forth in Section 10.07(l) as they would otherwise be subject to with respect to any purchase by or assignment to such Affiliated Lender of Term Loans and (iii) Affiliated Lenders may not provide Incremental Revolving Credit Commitments.

  • Conditions Precedent to Initial Borrowing The initial Borrowing under this Agreement is subject to the satisfaction of the following conditions precedent, except as otherwise agreed between the Borrower and the Administrative Agent.

  • Initial Advance On or prior to the Closing Date, Borrower shall have delivered to Agent the following:

  • Conditions Precedent to Borrowing The obligation of the Liquidity Provider to make an Advance on the occasion of each Borrowing shall be subject to the conditions precedent that the Effective Date shall have occurred and, prior to the date of such Borrowing, the Borrower shall have delivered a Notice of Borrowing which conforms to the terms and conditions of this Agreement and has been completed as may be required by the relevant form of the Notice of Borrowing for the type of Advances requested.

  • Funding Increases Before the Funder can make an allocation of additional funds to the HSP, the parties will:

  • Conditions Precedent to the Initial Extension of Credit The obligation of each Lender to make the initial extensions of credit provided for hereunder is subject to the fulfillment, to the satisfaction of Agent and each Lender, of each of the conditions precedent set forth on Schedule 3.1 (the making of such initial extensions of credit by a Lender being conclusively deemed to be its satisfaction or waiver of the conditions precedent).

  • Initial Borrowing Before or concurrently with the initial Borrowing:

  • Conditions Precedent to Initial Advance The obligation of Bank to make the initial Advance is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the following:

Time is Money Join Law Insider Premium to draft better contracts faster.